John McCain And Bill Clinton - Democrats Blocked Regulation Of Fannie Mae And Freddie Mac

This financial messed was caused by the government, forcing lending institutions to give loans to people with poor credit; It all began with the Community Reinvestment Act 1977 and got worse over time.

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News & Politics

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• John
• McCain
• Bill
• Clinton
• Barack
• Obama
• Fannie
• Mae
• Freddie
• Mac
• Economics
• Financial

[bgbreakdown]

Newsflash, Bill: The Republicans were leading Congress when you were president. The Dems emerged as a slim majority part two years ago and somehow they are responsible for this crisis. George Bush has been president for almost 8 years. We had a Republican congress for 6 of those, plus four years before that. What did they do to avert this crisis? But! Let's blame the Dems! Can the Republicans NEVER take responsibility for ANYTHING they've done? Oh, and Bill you lying sack of crap, go away.

[harvardlawgrad]

Hey bgbreakdown, here's a news flash; to get any legislation passed in the Senate (with the exception of budget legislation) it takes 60 votes. There has never been 60 republicans in the Senate in decades or maybe since last century. he government caused this crisis. The government forced lenders to give loans to unqualified individuals starting with the Community Reinvestment Act 1977 lobbied by ACORN (Who Obama worked for) amoung others and subsiquent legislation.

[bgbreakdown]

60 votes? Only to override a presidential veto, eh? I guess Bush was holding it up? But sure, pal. If you want to blame this crisis on freshman senator Obama you can live a wonderful life in your fantasy world. Tra la la! The party of deregulation is absolutely blameless. Tra la la!

[harvardlawgrad]

Evidently you don't know what you're talking about. In the Senate it takes 60 votes to stop debate on any issue (except budget legislation) and vote. If you don't have 60 votes it dies in the Senate and it never gets to the Presidents desk. Maybe you need to do some research instead of listening and taking what you hear at face value.

[HemiHead66]

Bill might be trying to take Obama out. That regulation had to with cooking the books not predatory lenders. And what about the bundled securitys that spread this mess throughout the world. Maybe you should let us hear everything Clinton said instead of these cut off interviews.

[exbronco1980]

@harvardlawgrad which law enforcement agency made banks loan money to unqualified people? how did those law enforcement agencies make banks loan money to unqualified people? can you cite several examples where banks were punished because they broke this law, because surely someone broke this law since it's been around for more than 30 years. what kind of punishment did breaking that law call for, and what kind of punishment did those who broke that law receive?

[OlivierdeAthos]

By the way, you still haven't answered me in the other thread.

1. Link me to ONE CREDIBLE SOURCE that says Senate rules require a 60% vote IN COMMITTEE in order to go to the floor for a vote. (You can't because it isn't true.)

2. Link me to ONE (credible) NEWS SOURCE (not an Op/Ed) that says the bill wasn't put on the agenda for a vote because of a Dem threat of filibuster. (again, you can't.)

[OlivierdeAthos]

You're still a partisan moron, my friend. And, apparently you STILL don't know or care how your own government works. A simple majority is required to pass a bill out of committee (11/9 which it got). Even Fox News (no defender of Dems) admits the bill made it out of committee.

Watch this video (again) at the 3:25 mark onwards, you psychotic moron. (Maybe take some Risperidone first, so you won't hallucinate this time.)

watch?v=cMnSp4qEXNM

[pantherprowl22]

OlivierAthos:

You are an IDIOT

It didn't go to the floor of the Senate because it didn't garner 60% support in committee --- ALL Republicans supported S190 --- ZERO Democrats did

[OlivierdeAthos]

Not that it matters at this point, but the legislation (s.190-109th) passed in the banking committee, but the Republicans never sent it to the floor for a vote because there were not even enough Republican votes to pass it with a simple majority, let alone a supermajority required to break a filibuster.

Even Fox News admits this.  watch?v=cMnSp4qEXNM (around 3:20)

[Kabane52]

LOL, you fail so badly, bgbreakdown. Like most liberal democrats, you haven't the slightest idea about the United States of America. Check out the video featured on my channel, it contains footage of the democrats in congress blocking legislation which would have fixed this problem. Watch it. I dare you.